04/08/1998 Council Minutes - Laserfiche WebLink

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COUNCIL WORK SESSION APRIL 8, 1998 Council Member Bergeson felt that fund raising was over simplified. There are only certain types of people and certain foundations that give large sums of money. It will be difficult to do fund raising for this Y because the City does not have corporate foundations that give large amounts of money. Staff was asked to determine how much funding could be realized from the School District and the Fairview Clinic and to bring this information to the next work session. Mr. Wessel and Ms. Divine are meeting with the School District Superintendent on Monday. Scott Goyer from the Y will attend the next work session. CIVIC COMPLEX UPDATE, BRIAN WESSEL Staff explained that the Rice Creek Watershed District will issue a permit for the civic complex at their meeting tonight. The site plan review will be before 6 ouncil on Monday at their regular meeting. Bonding for the project will be to ned ti later date. If the site plan is approved, bid packages will be se to p s e � e� ers next week. Funding - The City Council approved a bu committed contracts for this project were re concern about the money committe could save large sums of move b mplex last year. The uncil Member Lyden noted scapers, etc. He suggested the City e of these duties. A letter from Jerry Sh • crgst nc. dated April 7, 1998 was given to the Council. This lett r • nse to the discussion at the last work session. It outlined projects that need g 11 as different factors that need to be considered prior to determinin met 8 of financing the civic complex. Mr. Shannon expressed concern about a prold deplete cash reserves with only the possibility of replenishing them with o the sale of the property where the police building is currently located, the '% - of the Kaiser property, etc. He suggested that since the civic complex and the Early Childhood Facilities are eligible for lease revenue bond financing, this is the prudent course to pursue. The Area and Unit Fund could loan the Park Department funds to acquire land for an athletic complex. The City should pass a resolution of intent to reimburse the Area and Unit Fund for any transfer of funds for this purpose. The method of funding suggested above would finance the civic complex through tax levies and the Early Childhood Facility would be financed through a lease with the Centennial School District. Mr. Shannon did warn that this aggressive method of financing the projects mentioned would seriously limit future bonding until the year 2010. Three (3) options for funding the above mentioned projects were discussed as well as funding for the athletic complex. There was also a discussion regarding the use and PAGE 4 • • •